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Gevo Signs First Multi-Year Carbon Removal Credit Supply Deal

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Gevo Signs First Multi-Year Carbon Removal Credit Supply Deal

U.S. renewable fuels company Gevo (NASDAQ: GEVO) has signed a three-year agreement with carbon management platform CEEZER to supply carbon dioxide removal (CDR) credits from its North Dakota operations, marking the company’s first multi-year supply contract for the credits.

The deal, announced Wednesday, covers a “five-figure volume of tons” through 2029. CEEZER will procure and manage the portfolio on behalf of a global enterprise software company ranked among the Fortune 500. The name of the buyer was not disclosed.

Gevo said the contract supports its effort to build a carbon business capable of generating more than $30 million in annual revenue from existing operations. The company also sees the agreement as evidence that corporate buyers are increasingly seeking longer-term arrangements to secure carbon removal supply, pricing and quality.

The credits will originate at Gevo North Dakota, where carbon dioxide (CO2) produced during ethanol fermentation is captured and stored in geological formations more than a mile below the facility. Gevo says the storage is designed to retain the carbon for more than 1,000 years without requiring a pipeline.

The project uses bioenergy with carbon capture and storage (BECCS) to generate durable carbon removal credits for organizations pursuing climate targets. Gevo describes the facility as one of the first commercial-scale U.S. BECCS projects delivering verified removal credits to the voluntary carbon market.

Relevant: Gevo Sells $70 Million In Clean Fuel Tax Credits As Carbon Capture Adds Value To Ethanol

Gevo Chief Carbon Officer Alex Clayton said the company expects further sales to buyers seeking permanent removal supported by measurement, reporting and verification standards.


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